Author: Jennifer Brazer

The internet and mobile devices are used to do everything in our lives. You can’t say you need to do anything without someone informing you, “there’s an app for that” or “Google it.” Therefore, if you are a business owner, if you are not utilizing the digital world to promote and grow your business, you risk great failure and possibly your business’s end.

Digital marketing is the marketing strategy geared towards online efforts, including website development, social media, and email. The most important thing is that you focus your marketing heavily online while still using other offline marketing strategies that have worked for your business. Here are six digital marketing tips to help your business grow.

Create an Online Presence

Digital marketing always begins with you, making sure you create a strong online presence. That means you need to have your business everywhere; it is possible to do so. You first need to make sure you have a great website. If for no other reason but to give you and your business credibility. Depending on the business, your website can also be an extension of your sales.

It is equally important that you have a presence on every major social media platform. While businesses and marketing efforts generally saturate social media, it is still an effective strategy to have a business presence on major platforms. Some platforms can launch your business into an amazing success.

Know the Latest Trends

While in most cases, it would not be suggested to follow trends unless you are in a business that depends on trends to succeed, you must follow them when it comes to social media. Like any other marketing strategy, what is trending will bring success.

All marketing strategies require flexibility but digital marketing changes in the blink of an eye. There is also the added layer of changes in technology and emerging digital platforms. When it comes to what is trending in digital marketing, you will have to follow them to be successful in growing your business through it.

Get Creative

When it comes to any marketing, creativity is always a plus. In digital marketing, it is one of the most important aspects of a successful campaign. Because digital marketing is now the most used marketing strategy, you have to be creative to stand out. Don’t be afraid to be bold or humorous or dramatic to draw attention to your business and what it has to offer. Think outside the box and be ready to make changes according to what works and what doesn’t.

Search Engine Optimization

Search engine optimization is nothing new, but because everyone is doing it, it cannot be easy to use successfully. There are multiple tools available that can help with search engine optimization. Remember that you will need to use other marketing options in conjunction with search engine optimization because it cannot carry your digital marketing campaign on its own. Keywords are important in your content to boost your site, but it is not the only focus you need.

Personalize Your Content

When it comes to what people are drawn to in the online environment, there is a connection to those aspects of personal life. If your content is only based on your products and services without personalization, you will find that your business will be doomed to fail no matter how great they are. The most effective digital campaigns have a personal touch. They show that you have humans behind those products and services and that you love to connect to your customers.

Understand Your Customer

Sales are the key to any business’s success. That is what it boils down to when it comes to any business’s success or failure. You must understand your customer first by identifying who your primary customers are. While some products and services are fairly universal, most have a specific demographic they serve and knowing this can be extremely powerful. Once you identify your main target customer base, you need to make sure that this understanding leads to digital marketing campaigns geared towards those customers.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Debt, regardless of how big or small, must be managed effectively. For dealing with smaller debts, all you must do is keep up with your payments to prevent them from getting out of hand. However, if you are buried by too much debt, you must prioritize getting out from under it.

Knowing how much is owed

Start by creating a list of your debts, using your credit statements as a guide. This list should include the total amount of your debt, the amount owed to your creditors, as well as monthly payments and due dates. It can be referred to frequently, especially when paying bills. Update the list every few weeks, as the amount of your debt will often change.

Timely payment of the bills

Paying your bills at the last minute can make it more difficult to pay off debts since you run the risk of incurring late fees. Consider using a calendar system on your computer along or other digital devices. You simply enter your payment due dates, and the system will alert you a few days before the payment needs to be made. If you fail to make a payment, do not wait for the next due date. This will most often cause your bill to be sent to collections. Instead, send the payment as soon as you are able to.  

At least make minimum payments

If you are unable to pay off the entire debt, try to pay the bare minimum installment at least. Obviously, the minimum payment does little to help overall growth when it comes to paying off your debt. However, it stops it from increasing any further. When your payment schedule is unorganized, debt becomes harder to manage, which may eventually cause your accounts to slip into default.

Decide which debts need to be paid first

Credit card debt should always be your top priority. Begin with the card that has the highest interest rate since it costs you more money in the long-term. Use the debt list mentioned above to prioritize and sort your debts according to which need to be paid first. 

Pay the charges and cancellations

If you have only a small amount of debt, concentrate on keeping your other bank accounts in great shape. Never sacrifice your healthy accounts for those that are already in debt. Instead, pay your bills as soon as you can manage to do so.

Using an emergency fund account as a backup

Without an ample savings fund, you may have to incur debt to cover emergency expenses. However, having even a tiny savings account can be helpful to cover smaller expenses from time-to-time.  First, try to create an emergency fund of $1,000. Once that is achieved, aim to create a larger fund, such as $2,000. Over time, you can work towards the goal of having an account that can sustain you and your family for at least 6 months.  

Use a monthly financial plan to plan expense

Adhering to a detailed financial plan ensures that you will have sufficient funds to cover all your expenses each month. Plan well ahead, as this will allow you to take early action if you predict falling short on bills that month. A financial plan will also help with the appropriate allocation of any extra funds that remain after all expenses are covered; for example, using them to pay back debts faster.

Recognize the symptoms that it’s time to seek help

If you are finding it difficult to pay your bills and debt monthly, you can always seek a debt assisting company’s help. There are many other options available to depend on to help achieve financial freedom and sustainability.  

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A major concern of any new startup is securing finances and capital. If you are serious about your restaurant business, consider taking out a loan. Your restaurant will become successful when you can adequately manage your business even in low cash flow situations, such as the slow season.

Securing the finances needed to ensure your restaurant business’s success can prove to be a precarious task. Start by creating a business plan in which your funding requirements are recorded and get connected with potential financiers. Avoid letting your business requirements become a restriction. Here are a few financing tips to apply to your restaurant business.

Investors

One of the first steps towards opening a restaurant is securing funding from investors. It is always beneficial to have as much capital as you can before opening your business. Avoid outsourcing until you make a business plan. Having a solid financial plan is crucial, as it will indicate how quickly you plan on returning the borrowed amount to investors. Strive to prepare a perfect timeline that will ensure investors your business is a great candidate for their financial help. In many cases, restaurant startup owners must maintain strict financial discipline. This attitude promotes adhering to your timeline. Do not forget to record the date of your investor’s contract so that you can easily terminate the agreement once the repayment is complete.

SBA loans

Most business owners acquire loans through the American Small Business Association (SBA). Typically, it is good practice to assign a guarantee to your loan in case of default. This added security will make the process of getting approval from the SBA much easier. Understandably, there is great risk involved for banks to lend money to a new restaurant. Therefore, an SBA loan is the best option as additional lenders can participate in it, such as banks, credit, unions, etc., if they wish.  

There are a variety of competitive loan options through the SBA. All lenders require you to put some money down up front for loan security. Do some research and select the most suitable deal.

Crowd Funding

Crowdfunding and websites are the best sources for securing finances, such as the platform Foodstart. Web developers have designed this website for food trucks and restaurants. It is, by far, the best community-funding program.

Family, customers, friends, and non-customers can also use their Amazon account to secure capital. This can be a win-win situation since you will get strong support, along with other benefits such as menu ideas, discounts, free food items, etc. It is up to you which perks to select.

Crowdfunding provides you with access to the general public in order to ask for financing. Contributions may be smaller, but they can make a real difference collectively. After all, little drops make a river.

Credit Cards

Sometimes restaurant owners use credit cards to finance their business. When considering this option, you must be sure of the status of your money’s return. Take care to repay the amount with interest rate on time. Always track the dollar’s current value, as this applies to interest rates. You must be fully aware of the financial situation you are getting into by having a complete understanding of the financing terms.

Savings

You need a proper plan to save money for your restaurant’s finances. Another option is to invest your personal savings into the restaurant. In this way, you will never be a financial debtor. But there is some risk involved in this process. It is important to treat your savings as a regular financial transaction and repay the money on time in order to prevent any problems. Additionally, avoid pouring all your savings into your restaurant; set aside some amount as an emergency fund. Having a personal savings fund will keep you from becoming a debtor in the future. 

Last Words

Finding financers for your new startup can seem like a daunting task, regardless of what industry you are in. In the restaurant industry, financing is one of many vital tasks. You must have the best and most delicious menu, along with efficient customer service, while still managing your costs. According to CNBC’s research, 60% of restaurant owners do not achieve satisfactory business growth within the first year, and almost 80% leave the restaurant industry within the fifth year.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When online trading was launched back in 1999, it didn’t catch traders’ attention, and its progress was slow and delayed.  The acceptance of the process was also at a snail’s pace. The reason for this wasn’t much far as the markets were still fluctuating, and investors weren’t quite aware of the risks associated with online trading.

Brokers were more concerned about online trading swallowing traditional trade offline, but a lot has changed since then. The brokers are now more focused on shifting towards online trading as it comes with lots of benefits like ease, scalability, and time-saving. Here’s everything you need to know about becoming an online trader.

What must every online trader understand?

Given below are four important points that every online trader must understand in place of its offline equivalent. With the change in market trends, the online trading present here is to stay for good.

Online trading is easy and simple

The very first thing that online trading offers is its simplicity and sophistication. It takes off the investor’s burden to walk to the nearest broker’s office to deposit cash, collecting payment, or even need of calling the dealer to make a trade.

With online trading, everything becomes easily manageable from the comfort of an investor’s house. Online trading can be easily accessed from an individual’s laptop or PC, having a stable internet connection. With the era of smartphones, an investor can manage trade while on the move. In this era of technology, everything from the trading account, bank account to a debit account can be handled easily from a single platform. All this is what makes online trading so easy and appropriate.

Online gives greater transparency for trade

Online trading is great due to the transparency it offers. In traditional trading, when an investor gets in contact with his broker and requests to place an order, a waiting period comes in the way after which an investor is unaware of the order. All this hectic is taken away with online trading. An online trader can order the way it seems fit and check it in the order book for updates, get rough information about the transaction from the investor’s online trade book and further analyze the shares and other company actions.

Additionally, with the electronic contract notes, the fuss of physically noting down everything is saved. An online trader also gets the ease of acquiring capital gains statements online from the trading account.

Lower cost on operating meaning lower broker charges

The reason behind lower brokerage rates in the past few years is the cost-saving on online trading. Online trading is a one-time investment for any broker, which ultimately results in lower costs on operations and maintenance, which is much lower than functioning with an army of employees. Such lower costs are transferred to the consumers, which is fruitful for any investor.

Quotes all the security risks associated with trading

Security risks aren’t discussed properly when an individual goes through offline trading. However, an individual is still required to sign the Debit Instruction Slips and sign a check to proceed with the trading process. In comparison, the concept is a lot opposite in online trading. In online trading, a lot of focus is towards making the system safe and secure, and online security enhancement should be the number one priority for any online trader.

An online trading individual works on his account’s security to make it less accessible by others, which can be done by upgrading hardware and software daily and keeping anti-malware and anti-virus software up to date. Another way to keep the online trading account safe is by limiting the account’s access from unsecured Wi-Fi networks and cyber cafes.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Companies focusing on marketing are 67% more likely to grow their revenue.

Marketing is key to any business’s success, mainly through a well-crafted digital marketing strategy. It boosts your brand’s visibility, brings in new customers, and increases sales through effective marketing strategies.

You need to use essential marketing strategies to stand out in a crowded market. These methods drive results and help your business shine.

In this article, we’ll examine the best marketing strategies. We’ll guide you through developing a robust content marketing strategy, showing you how to build a strong online presence, reach your audience effectively, create exciting content, and run winning marketing campaigns.

Ready to grow your business? Let’s explore the top marketing strategies, including digital marketing strategies, that will not only boost your growth but also ensure ongoing success.

Key Takeaways

• Effective marketing strategies can lead to significant revenue growth for businesses.

• Marketing enhances brand visibility, attracts new customers, and boosts sales.

• Key marketing methods, including content marketing strategy and online marketing strategies, help businesses secure a powerful online presence, engage their target audience, and create captivating content.

• Successful companies use a mix of strategies, including strong branding, understanding their audience, detailed marketing plans, skilled social media marketing, and quality content creation. Public relations, earned media, search engine optimization (SEO), influencer marketing, and email marketing are also crucial.

• Leveraging these proven marketing strategies and digital marketing strategies can unlock business growth and success, no matter the industry or company size.

Online Presence and Branding

In today’s world, a strong online presence and branding are key for all businesses. They help boost brand visibility, enhance your digital marketing strategy, and employ online marketing strategies, which can significantly boost your online presence and make your mark in your industry. Here are some essential ways to elevate your online presence:

Building a Website

Your website acts as your digital storefront. It reflects who you are and what you offer. Ensuring it’s optimized for user experience, such as being mobile-friendly, having clear fonts, and loading quickly, can impress visitors and keep them engaged with your brand.

High-Quality Content

Top-notch content creation, including writing blog posts and engaging in video marketing, is essential for grabbing and keeping your audience’s attention. Producing great content demonstrates your expertise in your field and provides your audience with valuable insights—digital marketing techniques to make your website pop up more in search results.

Social Media Engagement

Utilizing social media platforms through smart social media marketing is a direct way to connect with people and spread the word about your brand. Platforms like Facebook, Twitter, Instagram, or LinkedIn allow you to reach out to your audience. By posting often and engaging in activities like going live, you can showcase the human side of your business, fostering trust and familiarity.

Branding Strategy

A strong, clear branding strategy is crucial for establishing a strong personal brand online. Figure out your business’s tone, look, and values. Make sure they show up the same way everywhere online. This consistency boosts brand awareness, helping people recognize and trust your brand, even in a busy online world.

Benefits of Online Presence and Branding	Strategies for Achieving a Strong Online Presence
Increase brand visibility	Build a well-designed, mobile-friendly website
Reach a wider audience	Create high-quality and relevant content
Establish credibility and trust	Engage with your audience on social media
Boost brand recognition	Develop a clear and consistent branding strategy

With a well-crafted digital marketing strategy, you can get your brand out there by working on your online presence and branding. You’ll connect with your target audience better and use clever marketing strategies to engage them more effectively—digital marketing techniques to grow your business.

Target Audience Identification and Segmentation

Knowing your target audience well is critical to making your marketing work. By figuring out who they are and what they like, you can make your messages hit home. This audience targeting makes customers feel more understood and brings them closer to your brand.

You need to do your homework to get to know your audience. Audience research helps you learn about the people you want to reach. This knowledge is gold for creating ads and campaigns that they’ll actually pay attention to.

Once you know who your target audience is, you can group them by similar traits or behaviors. These groups each get their own unique marketing. Thanks to effective audience targeting, when you speak directly to what they care about, they’re more likely to listen.

Creating detailed buyer personas can take your marketing to the next level. These are like character sketches of your ideal customers, offering deep audience insights. They tell you what interests and challenges them. Knowing this helps you make content that really speaks to them.

Listening to what your customers have to say is always a good idea. Their feedback can guide you in making your marketing even better. Customers who feel heard and see changes based on their feedback are happier and more loyal to your target audience.

Benefits of Target Audience Identification and Segmentation:	Marketing Strategies for Business Growth:
Enhanced relevance of marketing messages Increased customer engagement Improved customer satisfaction Enhanced personalization of offerings Maximized marketing ROI	Market research Segmentation Development of buyer personas Collection and analysis of customer feedback

Essential Marketing Strategies

Developing a comprehensive marketing plan

Start by creating a complete digital marketing strategy. This plan will guide all your marketing activities and ensure consistency in your messages and branding across all marketing channels. Your plan should include setting marketing goals, knowing your target audience, and picking the right ways to market to them. Also, set a budget and choose how you will measure success.

• Set clear marketing goals: Decide what you want to achieve with your marketing efforts. Make sure these goals help meet your overall business objectives.

• Identify your target audience: Know who your best customers are and what they like. This will help you reach and connect with them more effectively, ensuring your marketing resonates well.

• Determine marketing tactics. Identify the best marketing channels to promote your products or services effectively. This can include a mix of paid advertising, social media marketing, engaging articles, or targeted email marketing campaigns.

• Set a budget: Decide how much money you’re willing to invest in paid advertising and other marketing strategies. It’s crucial to allocate your budget wisely across different channels.

• Measure return on investment: It’s important to find effective ways to track the performance of your marketing efforts. This data-driven approach will empower you to make informed decisions.

Utilizing social media effectively

Social media platforms offer a fantastic opportunity to share your brand’s story and connect with your audience. Embrace social media marketing with these strategic tips to enhance your presence.

• Create profiles on major social media like Facebook and Instagram.

• Keep your posts coming regularly to stay in your audience’s minds.

• Reply to comments and messages quickly to show you care about them.

• Leverage video content and video marketing techniques, like live videos, to share your story in an authentic and engaging way.

• Link social media with your other marketing to make a bigger impact.

Creating high-quality, engaging content

Content marketing helps get your audience interested. Follow these steps to do it right.

• Share helpful content that meets your audience’s needs.

• Make your content easy to find on search engines.

• Think about starting a blog to share valuable articles or tips.

• Try different kinds of content, like videos, to see what people like most.

• Spread your content through many channels to reach more people.

Incorporating public relations and earned media

Public relations and positive media coverage stemming from your commendable work can significantly enhance your brand’s image. Here’s how to capitalize on it.

• Develop a clear public relations strategy that includes press releases and outreach to media and influencers to amplify your brand’s message.

• Seek opportunities to sponsor events or speak at them to showcase your expertise and knowledge.

• Encourage people to recommend you.

• Work with experts or influencers to get more people knowing about you.

Search engine optimization (SEO) strategies

Good SEO practices, including thorough keyword research, are essential to improve your website’s ranking in search results. Here’s what you need to focus on.

• Find the best keywords for your site and use them well in your content.

• Make sure your site’s information is set up to be noticed by search engines.

• Get links from other trustworthy sites to boost your own site’s trust.

• Make sure your website is easy for people to use.

Influencer marketing strategies

Incorporating influencer collaborations into your marketing strategy can be highly effective. Here’s how to leverage the power of influential personalities in your niche.

• Find influencers who share your values and have a big reach.

• Get to know these influencers by working together.

• Use their fame to make more people aware of your brand.

• Follow up on how well your influencer campaigns do for your business.

Email marketing best practices

Email marketing can significantly boost your business by maintaining communication with potential customers. Here’s how to do it wisely.

• Build a list of people interested in what you offer.

• Send emails that matter to each person based on what they like.

• Write emails that make people want to open them.

• Use systems that send the right email at the right time.

By applying these digital marketing strategies, you can reach more people, enhance your brand visibility, and grow your business. It’s crucial to tailor these strategies to meet your unique needs and continuously evaluate their effectiveness for ongoing improvement.

Conclusion

To excel in today’s competitive landscape, businesses must prioritize their online presence and brand image. A well-designed website and engaging, high-quality content marketing efforts are essential. They bolster your business’s credibility and help attract more customers, enhancing brand awareness.

Understanding your target audience is key to effective marketing. Conducting thorough audience research and developing buyer personas can make your marketing efforts more direct and impactful.

A comprehensive marketing plan is essential for growth. It incorporates strategies like social media marketing, public relations, search engine optimization, influencer collaborations, and targeted email marketing. These methods help your business connect with customers, spread the word, and increase sales.

Now is the time to implement these marketing strategies in your business. Starting today can lead to growth and success. A well-crafted digital marketing strategy can significantly enhance your business, regardless of its size or industry. So, take action today and watch your business thrive.

FAQ

What are some essential marketing strategies to help grow my business?

To foster business growth, concentrate on key marketing strategies such as crafting a detailed marketing plan, excelling in social media marketing, producing top-notch content marketing, engaging in public relations and earned media, optimizing for search engine optimization, and leveraging influencer collaborations and email marketing.

How can I establish a strong online presence and branding for my business?

Invest in promoting your brand through a strategic digital marketing strategy for a robust online presence. Ensure your website offers an excellent user experience, functions seamlessly on mobile devices, and engages users with high-quality content marketing. Consistency in your brand’s look and message across social media marketing efforts is crucial for building brand awareness.

Why is it important to identify and segment my target audience?

Understanding your target audience is crucial. It allows you to tailor your marketing efforts directly to their preferences with personalized messages and offers. This audience-targeting approach makes your marketing more effective.

How do I develop a comprehensive marketing plan for my business?

To devise a solid marketing plan, begin with clear objectives and a deep understanding of your target audience. Choose your marketing channels wisely, allocate your budget, and outline how you’ll measure success, including considerations for paid advertising. This strategy will steer your marketing efforts, ensuring your message remains clear and consistent.

How can I utilize social media effectively to promote my business?

For social media marketing, start by being active on your audience’s social media platforms. Post regularly and engage with your followers. Consider using live videos, a powerful video marketing tool, to show your business’s human side. Mixing in traditional media and sharing fun, relevant content can also help.

What are some best practices for creating high-quality and engaging content?

To create great content, think about what your target audience wants to see. Optimize your content for search engine optimization so search engines can find it easily. Use various types, such as blog posts, video content, and reviews. Good SEO practices, such as choosing the right keywords and making your site easy to navigate, will also help others find your content.

How can I incorporate public relations and earned media to build a strong image of my business?

For a good image, have a public relations plan and contact journalists. Encourage people to talk about your business positively. Using these tactics, you can enhance brand awareness, show your business in a good light, and get more people talking about it.

What are some effective search engine optimization (SEO) strategies to improve my website’s visibility?

Focus on search engine optimization (SEO) to boost your site’s visibility. This means making your website and its content more SEO-friendly. Use strategies like keyword research, building links, and making sure your site is easy to navigate. Remember, a site that works well and looks good will likely rank higher in searches.

How can influencer marketing help promote my business?

Working with influencers through influencer collaborations can expand your reach and build trust with new audiences. Choose influencers who share your target audience. This way, their followers are more likely to become your customers.

What are some best practices for email marketing?

Start by growing your email list and sending out well-crafted messages. Use good copy, personalize, automate what you can, and send targeted emails. These email marketing practices can help turn leads into buyers and keep your current customers engaged. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

If you are a new small business owner or a small business owner looking to expand your business, you’ll need financing. Whether you choose to go with investors or seek loans from a financial institution is important that you have all the documents needed to increase your chances for financing. Besides a business plan, the most important documents you will need to help you get investors, keep investors, or obtain loans are financial statements.

There are four main statements that you will need. These four statements are the income statement, the balance sheet, the owner’s equity statement, and the cash flow statement. Here are four business statements every business needs to have and their purpose.

The Income Statement

The income statement helps investors and lenders the idea of your business’s performance over a specific timeframe. The income statement is also known as a profit and loss statement (P & L) or revenue and expense statement. It shows investors and lenders your business’s nonoperating and operating expenses and revenue, no matter what it is called.

A person will share the business’s income statement to help potential investors and lenders understand how your business performs and whether the investment would be a good one.

The Balance Sheet

The balance sheet is also known as a statement of net worth or a statement of financial position. The balance sheet is based upon the equation assets = equity + liability. This statement will show investors and lenders your business assets, liabilities, and equity. It also provides them with the overall position of your business over a specific timeframe. Generally, the balance sheet is used to help your accountant calculate financial ratios.

The balance sheet is perhaps the most commonly shared financial statement because it gives a great overview of its financial position. It also quickly gives investors and lenders an idea of whether financing your business is a safe and minimal risk.

The Cash Flow Statement

The cash flow statement is also known as a statement of cash flow or financial position changes. The cash flow statement is used by investors or lenders and the business owner and accountants to see whether the business generates enough cash to meet obligations and operating expenses. In other words, it gives everyone an understanding of how the business is managing its cash flow.

 

The cash flow statement is crucial for understanding the business’s ability to pay bills, accounts payable, and meet payroll and inventory demands. This statement should not be confused with the owner’s equity statement. This is the money used from profits to finance its daily operations and is not an investment.

The Statement of Owner’s Equity

The statement of owner’s equity is also known as the statement of changes in equity or a statement of shareholder’s equity. This statement specifically shows profits and earnings that are being retained by the business and not distributed to shareholders. These earnings are generally used to reinvest in the company, pay off debts, or finance business growth.

This statement is generally used to give an idea of the financial stability and health of a business. It shows if a business can meet financial and operating needs. All are done without requiring new contributions of capital from the owners or shareholders.

Conclusion

These very important financial statements will be used in multiple ways. They will be used when seeking investors or trying to obtain business loans. They are also used after a business is established to give shareholders, possible investors, and lenders an assessment of its financial aspects. It is essential that these four financial statements be accurate and up kept. These four financial statements can be the difference between your company receiving funds and financing and going out of business.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Making money is a very difficult task for many, but some people have mastered the art of making money from anything. These people are not magicians; they are using their skills to their fullest. No matter what job a person does, there is always room to make more money.

In reality, there are no particular skills required to make money. One can literally earn money from whatever he is good at, so anyone can utilize their skills to earn extra income. Hobbies are the best way to make revenue because a person does not typically get bored with it.

Consistency and belief are two important ingredients that are required to earn some extra cash. Many people fail to make extra income only because they were not persistent and gave up too soon.

Sales skills are highly necessary to make money irrespective of the person’s field. To make money, an individual is selling either a product or service. For the former, skills and knowledge are required to convince the customers, and for the latter, a person should know how to sell himself.

 Other skills that would be needed are honesty, hard work, enthusiasm, and courage to take risks.

Here are some money-making skills that can double the monthly income of a person in a lesser time.

Freelancing:

Any work that is done for the client without committing to it for the long run is called freelancing. Freelancers are self-employed because they can flexibly select their working hours. Many websites allow the freelancer to work with ease from their home. One can start freelancing in their free time or on the weekends.

A freelancer usually provides his mind and skills. There are freelance writers, designers, web developers, photographers, and the list goes on.

Tutoring:

A graduate person could use the time to educate others. Working as a private tutor or joining an institute as a special subject teacher can help a person utilize their skills and subject matter knowledge to earn money.

Painting:

One does not need to be a full-time artist to earn money from painting. An individual could paint everything from portraits to houses or face paint at events.

Take Online Surveys:

An individual can also sit and fill out marketing surveys. Often, these surveys give rewards either through monetary compensation or gift cards.

Peer to Peer Lending:

Some people are in urgent need of money and want it instantly, so a person could join a lending club and earn interest on the loaned money. The earning could be as high as 25%, but usually turnover is between 3-8%.

Affiliate Marketing:

Affiliates are the owner of the website, and their web-content is usually about the company they are advertising.  Affiliate marketing pays you money when you refer others to the company for a particular service or product.

Repair Electronics:

A person who is a repair tech could also earn money from their skills, and a typical repair shop is not always necessary. The customer could contact a repairer by just hearing about the services. From computers to juicer blenders, one could be able to repair anything.

Online Selling:

Buy some small things at wholesale rates and sell them on the websites that allow the users to open their shop online. The products are sent to the customers using different courier services within 2-5 business days. That means one could have enough time to pack and send the product. These websites take a small percent of whatever is sold, and creating an account is low cost.

Sell Photographs:

Buy a good camera and sell what is captured. There are websites that allow photographers to upload their photos and earn from them whenever a person downloads them. These websites provide percentage-share to the uploader.

YouTube Video Making:

YouTube lets their account holder earn from their videos. When people watch the video, the person who has uploaded it gets the profit from the company.

E-Book Writing:

Any person could become a book writer – thanks to the internet. Now, there is no need to have funds to publish the written work. From a cookbook to the first aid booklet, one could write and publish just about anything. Many e-book sites allow users to earn from their e-books.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Freelancers, or contractors, often work on different projects at a single time, which can make it difficult for them to keep track of time. Therefore, they are always in search of a way to manage their time and deadlines effectively. Handling and tracking time effectively enhances the productivity of the freelancer and increases their efficiency. Back in 1500 BC, Egyptians used a device similar to the sundial which used to help them in tracking time. We still need to time track; however, the methods have evolved with time.

On several occasions, businesses need a time tracking system to reduce the effort of maintaining records on their own. You will find several methods on the internet that can help you manage and track your time. If you are a contractor, it is recommended that you utilize software to keep track of time to increase your work productivity. Below are some methods which you can use.

1. The Paper Method: This method requires you to have access to a pen, paper, and a stopwatch, which can be found on most smartphones. You can use a stopwatch on your phone to keep track of time by writing down the time it takes to finish a particular activity. This method is easy to use. However, you can easily lose the paper which you used to keep track of everything.
2. The Honor System: This system requires you to estimate the time it would require you to complete a task and report it to your project manager. They estimate the amount you should get paid considering the hourly rate you state, so while this method is easy, inaccuracy is always an issue. You may under or overstate the time you require to finish a task, negatively affecting your compensation later if you cannot provide proof.
3. The Spreadsheet Method: In the spreadsheet method, you use a template and add the commencement time and the project’s finishing time. You can use the template provided in Excel and add the columns as you require. This helps you send the report to the manager easily, and it is easier to document than the honor system. However, it is time-consuming as a person needs to manually type the data whenever the work is completed.
4. Mobile Phone: Mobile time tracking was considered a luxury a few years ago. In this decade, it has become necessary for people and businesses to keep track of time and bills through mobile timesheets. You can download an app or make use of time-related, built-in applications to record time.
5. Google Chrome: It is usually helpful and preferred to record time without signing into an application. Google Chrome (or any other browser) offers a user to record time of any activity or the time spent on a website without the need to sign in.
6. Biometric System: Retina and fingerprint scanning may sound futuristic, but many organizations are now using them to record time. Biometric time tracking allows an organization to keep track of the check-ins and check-outs of the employees. This is more convenient than manual time tracking.
7. Cloud Software or app: With the help of advancement in technology, people can now use Cloud software to track and record time and all the necessary information related to it. They can even share it with as many people as they want. Cloud software helps an individual to save time by keeping all the data updated, and the data entered is automated.

In short, there are many methods that both businesses and individuals can use to manage and record time according to the nature of their work. Technology has greatly impacted businesses, freelancers, and contractors, by reducing the efforts it requires to manage and record all the time and data manually.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When starting a business, there are many things to consider. The first thing you must figure out is how you are going to finance your business. In some cases, a new business owner will fund the business independently; in other cases, a new entrepreneur will need either partial or full funding. You can finance your business multiple ways, but to determine financing possibilities, you will need to assess the business and financing potential. The first suggestion is that you create a business plan that will include the business’s financial needs. Here are seven ways you can fund your business outside of using your savings.

Friends or Family

While often, when we are starting our own business, it can be met with mixed reactions. Most of your friends and family will be supportive, but you may also encounter some naysayers among them. Just because a friend or family may support your business venture doesn’t mean that they will also finance it, but if you give a compelling presentation and have the funds, some friends or family may be willing to invest in your business.

Outside Investors

Soliciting outside investors can be a great way to fund your business. Outside investors can be easier to solicit than friends or family because they will be looking at the business plan, earning potential, and impression of you. They won’t have preconceived notions of you that your friends and family may have. Outside investors are looking for investments that will earn them income, and if your company has great potential, you can attract great investors.

Bank Loans

Bank loans are the traditional option that many businesses use to finance. It is less preferred as an option because of the interest and requirements you may not meet, especially as a startup. If you have great personal credit, you can generally get some funding for your business when coupled with a great business plan. However, banks are often hesitant to back a new business regardless of personal credit due to the risks missed by your business.

SBA Loans or Business Grants

The Small Business Administration is a great way to get financing for your business, but it is also one of the most difficult ways. There is a lot of paperwork and strict requirements to get a loan or grant through the SBA. But if you can do it, the rates are great, and grants do not require payback. Even though it is a long shot to get an SBA loan or grant, it is worth the time and effort because the payoff is great.

Credit Cards

Credit cards are an option to finance your business or purchase the business’s needs, but it is the least preferred. Credit cards generally have higher interest rates, and if you max them out, you can have difficulty getting out from under the debt it will create. A credit card should only be used for business purchases if you have no other option. They can also make smaller purchases for business needs as long as you make every effort to quickly pay the balance. It is also suggested that you obtain the credit card you will use for business under its name.

Purchase Order Funding

Purchase order funding is fairly new to business financing but is gaining popularity. This type of financing works by the investor paying your suppliers directly for the goods and materials you need to start selling. You will pay the investor much like you do if they fund your business directly, through the profits you make as a business.

Crowdfunding

Crowdfunding has become an extremely popular way to finance a business or project. If successful in getting crowdfunding to start your business, the crowd invested in you will be paid back when your business becomes profitable. Crowdfunding is largely dependent on you selling your business idea and yourself. Often investors on crowdfunding sites invest from their hearts.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

One common source of income comes from a professional or registered job or business. Earning a lifetime profit on a one-time investment is called earning a passive income. It also refers to the income generated from passionate efforts. Most people earn this by utilizing their natural skills. Suppose you have an interest in app development or cooking. In this case, you will first visit multiple websites and channels on the internet. You will start learning tips and tricks and learn how to exercise your talents practically to further develop your interest. It is human nature to be curious and explore subjects that interest you.  

Our hobbies and interests encourage us to learn something new. Multiple platforms exist on the internet where we can become a solo entrepreneur and generate passive income. The journey from initially learning to creating a self-made business is the path to earning a passive income.

This income is the best source to balance your financial circumstances. According to CNN Money, around 44 million US adults desire to make more money than their regular jobs, and nearly 36% of Americans become successful in making 500 extra dollars monthly.

The public’s interest in making passive money is increasing, and its scope is rapidly broadening every year. However, many Americans remain ignorant of this potential. They even believe “having a side hustle” is a useless practice and a wastage of time. That is why you must be smart when spreading awareness about passive income and earning money.

Your passive income depends on your capacity to work. There is the guarantee of a refund at the initial level but, with time, your talent will develop. For example, you are a newbie in the blog or article writing field and do not handle clients. You write your first blog and send it to the customer. Your article may be initially sent back because you could not meet the client’s requirements. You will then learn and find solutions. In the end, you will use this lesson to progress and take on more clients and earn more income, or you will abandon the field and eliminate your chances of succeeding.

There are multiple strategies and ways by which you can make passive income that is relative to your income standards.

One option is to use your spare bedroom or floor as a space to rent out to travelers or housemates. This will allow you to earn long-term passive income. This is done by leaving one portion of the house for yourself and renting the other portion out. You must have your tenant sign a legal agreement and decide a specific amount for rent. Here, this one-time investment also means you do not need to purchase a separate property but can use the home you already live in.

Another option is the peer-to-peer lending process. Various companies, such as Lending Club and Prosper, provide investors with different productive offers to realize the best passive income earning source. According to Financial Samurai, investors get 10% of the returns on investment within a year, generating passive income from companies. Additionally, the competitive rates offered are what attract consumers.

Do you have an interest in photography? Consider selling stock photos as a way to earn passive income. Photography is a hobby that allows us to preserve infinite memories. Additionally, it is a way to tell a story without using words. People love to have photos of their choice displayed in their house. This interest can help you earn a profit if you have a talent for it. The high scope of demand makes this domain of stock photography a big market.

Passive income is not an illegitimate way of earning money; it is done through passionate efforts. Consider using your skills, talents, and interest to earn supplementary income for you and your family.

 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.